NEW Statistics on Luxury Home Sales in Bayfield WI & on Madeline Island
The most recent stats on luxury home sales for the Madeline Island (La Pointe, Wisconsin) and Bayfield, Wisconsin area have been updated and are now available. At Madeline Island Realty, we're particularly proud to report that those updated statistics show eight of the last nine homes sold in our local market area over the last five years, and sold at prices in excess of half a million dollars, were properties listed by Madeline Island Realty.
But there's more to the bar graph and sales numbers than meets the eye. We dug into the history of those nine most recent sales over $500,000 and we found something that local area homeowners should know.
Out of those nine most recent closed luxury home sales in the Apostle Islands area, five of our sold properties never received even one showing request from another realty office, either in our area or from outside the area.
That's right, not one showing.
We encourage competing real estate companies throughout our area (Ashland and Bayfield Counties in Wisconsin) to cooperate and to bring buyers for our listings. We also make every effort to show their listings. But when local competitors are not even able to procure a single interested party throughout the life of a listing, that speaks volumes about their lack of market "reach". This failure to request even one showing tends to indicate that those brokerages simply aren't reaching prospective luxury home buyers in the upper price brackets.
As a result of that lack of showings by other brokerages, our brokerage wound up both listing and procuring the buyer for the majority of our luxury home listings during the past five years. It is also a fact that Madeline Island Realty both listed and procured the buyer for the majority of all the luxury home listings sold in our market during the past five years.
We like our area competitors in the real estate business and we value their cooperation. I only wish that they were more consistent in showing our listings and in attempting to procure buyers for listings other than their own.